There are numerous benefits to Premium Finance, but the following are some of the key reasons to choose Fulcrum Premium Finance:

• Improved cash flow – businesses can release substantial cash flow by paying off annualised insurance through premium finance. The improved cash flow can be used for investment opportunities or used for the rising costs in the current market. 
• Collateral and cost-effective – The interest rates for premium finance are competitive and act as an attractive banking alternative. There are no additional securities required other than the insurance policy. 
• Claim substantial VAT input upfront – premium finance enables businesses to claim VAT input credits at the beginning of the policy. This frees further cash and generates a substantial time-value-of-money saving.
• A simplistic insurance portfolio – All policies are aggregated into one monthly repayment with insurers and brokers receiving their annual portion upfront.
• Preferential to rescheduling with the insurer – premium finance costs typically allow the policyholder to obtain the benefit of having an annual premium compared to a monthly policy.
• Reduced administration – Fulcrum handles the collection of repayment from the client and the payment of the premium to insurers and brokers.

Insurance brokers enjoy several benefits when they partner with Fulcrum:

• They receive their full annual commissions and fees upfront, improving their cash flow and boosting their liquidity.
• Offering the product to their clients can enhance client satisfaction and loyalty, as it provides a more flexible payment option.
• Fulcrum will handle the administration related to payment collection and unpaids, reducing the broker’s administrative burden.
• Brokers can cater to a wider range of clients who might otherwise be unable to afford lump-sum premium payments.
• Providing premium financing option can differentiate a broker in the market which will allow them to attract more clients.